Daiwa Investment Conference Tokyo 2018 · 3/8/2018 · Total assets were 265.9bn yen, up 26.2bn...

© 2018 HORIBA, Ltd. All rights reserved. 1© 2018 HORIBA, Ltd. All rights reserved. 1

Daiwa Investment Conference Tokyo 2018

Atsushi Horiba

Chairman & Group CEO

HORIBA, Ltd.

March 6-7, 2018

© 2018 HORIBA, Ltd. All rights reserved. 2

Since Jan. 1st, 2018

New Management of HORIBA Group started


Change in Representative Directors

Name New title from Jan.1, 2018 Previous title

Atsushi Horiba Chairman & Group CEO Chairman, President & CEO

Juichi Saito Executive Vice Chairman & Group COO Executive Vice President

Dr. Masayuki Adachi President & COO Senior Managing Director

Takashi Nagano Director & Global ATS Board Leader Director & General Manager

Purpose behind the change in roles of new organaizationStrengthening group management and clarifying the group management system,to further enhance HORIBA’s technology and development capabilities

Future rolesHoriba Strengthen governance, promote the corporate culture, and supervise

the entire group Saito Manage the group and lead specific strategiesAdachi Focus on managing HORIBA, Ltd. and strengthen its function as the

global headquarters of HORIBA GroupNagano Focus on the ATS segment, accelerate its global business expansion

At the press conference,

Kyoto, Oct. 24, 2017


Contents

2017 Results

2018 Forecast

Business Segments Outline

Shareholder Return

Other TopicsFinancial Data

Corporate profile


Contents

2017 Results

2018 Forecast


Shareholder Return


Corporate profile


Review of 2017

ExternalEvents

Start of the Trump administration in US

UK’s announcement to leave EU ⇨ General election in UK

Presidential election in France, general election in Germany

Booming semiconductor market

⇨ Innovation such as IoT, AI, and autonomous vehicle operation

Automotive electrification, emission regulations

InternalEvents

New/expanded facilities (US, UK, South Korea, etc.)

Completion of the Aso factory expansion

Partnership in the Medical segment

Announcement of a transition to a new management regime

Renewed a record-high share price; market cap exceeds 330bn yen


Summary of 2017 Results

Renewed record-highs in sales, profit and dividend; 11.5% ROE

Increase in sales and profit in the Automotive Test Systems and Semiconductor segmentsP&L

Total assets were 265.9bn yen, up 26.2bn yen from the end of 2016, due to capital spending

Interest-bearing debt was 42.0bn yen, down 4.6bn yen from the end of 2016, due to using the capability of financial subsidiaries in US and UK

Equity ratio 56.5%

B/S

Operating CF : Cash in 28.2bn yen due to growth in profit

Investing CF : Cash out 13.1bn yen due to capital spending

Financial CF : Cash out 9.0bn yen due to short-term debt repaymentCF

Free CF+15.1bn yen


2017 Results(Billions of Yen)

2016

ResultsForecast

(as of Dec. 19)Results

vs.2016

vs.Forecast

Sales 170.0 192.0 195.3 +25.3 +3.3

Operating Profit 18.4 24.5 26.8 +8.3 +2.3

O. P. % 10.9% 12.8% 13.7% +2.8p +1.0p

Ordinary Profit 18.2 23.5 26.6 +8.3 +3.1

Net Income attributable toOwners of Parent 12.9 15.0 16.2 +3.3 +1.2

USD / JPY 108.78 111.00 112.16 +3.38 +1.16

EUR / JPY 120.26 127.00 126.70 +6.44 -0.30

2017

： Record-high


2017 Results by Segment(Billions of Yen)

2016 2016

ResultsForecast(as of Dec.

19)

Resultsvs.

2016vs.

ForecastResults

Forecast(as of Dec.

19)

Resultsvs.

2016vs.

Forecast

Auto 62.2 72.0 73.3 +11.1 +1.3 3.5 6.7 7.6 +4.1 +0.9

P&E 16.7 17.0 17.4 +0.6 +0.4 1.5 0.6 1.0 -0.4 +0.4

Medical 26.5 25.0 25.1 -1.3 +0.1 2.8 1.7 1.9 -0.8 +0.2

Semi 38.8 52.0 53.3 +14.4 +1.3 9.6 15.0 15.6 +5.9 +0.6

Scientific 25.7 26.0 26.1 +0.3 +0.1 0.9 0.5 0.4 -0.4 -0.0

Total 170.0 192.0 195.3 +25.3 +3.3 18.4 24.5 26.8 +8.3 +2.3

Sales Operating profit

2017 2017

： Record-high


Contents

2017 Results

2018 Forecast


Shareholder Return


Corporate profile


Market Assumptions for 2018

Strong willingness to invest by the global automotive sector due to tighter emission regulations in Japan & Asia and innovation for electrification & autonomous driving

Auto

P&E

Scientific

Medical

SemiContinuous strong investment by semiconductor manufacturers

Expect growth in demand for power semiconductors, due to vehicle electrification

Stable demand for optical components from the semiconductor market

Accelerating research on new materials due to the booming secondary battery and semiconductor markets

Japan: Favorable sales to doctors in private practice

Overseas: Increase in demand for blood testing equipment in developing countries

Recovery in investment by the oil industry due to higher oil prices

Tighter environmental regulations in developing countries


Exchange rate

2016 2017

Results Results Forecast vs 2017

USD 108.78 112.16 110 -2.16

EUR 120.26 126.70 130 +3.30

2018

1 yen O.P. sensitivity for 2018 Forecast (Yen appreciation)

USD 0.21 billion yen

EUR 0.02 billion yen

(Yen)


2018 Forecast(Billions of Yen)

2016 2017

Results Results Forecast vs. 2017

Sales 170.0 195.3 210.0 +14.6

Operating profit 18.4 26.8 29.0 +2.1

O.P. % 10.9% 13.7% 13.8% 　+0.1p

Ordinary profit 18.2 26.6 28.4 +1.7

Net Income attribute toOwners of Parent 12.9 16.2 19.0 +2.7

Net profit per share (Yen) 307 386 450 +64

ROE 10.0% 11.5% 12.1% +0.6%

2018

： Record-high


2018 Forecast by Segment(Billions of Yen)

2017 2018 2017 2018

Results Forecast Results Forecast

Auto 73.3 79.0 +5.6 7.6 8.0 +0.3

P&E 17.4 19.0 +1.5 1.0 1.4 +0.3

Medical 25.1 26.0 +0.8 1.9 2.0 +0.0

Semi 53.3 58.0 +4.6 15.6 17.0 +1.3

Scientific 26.1 28.0 +1.8 0.4 0.6 +0.1

Total 195.3 210.0 +14.6 26.8 29.0 +2.1

Sales O.P.vs.

2017

vs.

2017： Record-high


Contents

2017 Results

2018 Forecast


Shareholder Return


Corporate profile


Auto

EMS*1 Sales increase due to tighter emission regulations

MCT*2 Recovery in capital spending by automakers

ECT*3 Increase in expenses to form a MIRA Japan teamAggressive investment for next-generation regulations and technologies

2017 Results

2018 Forecast

EMS Solid demand in Europe under new regulationsIncrease in demand in China and India ahead ofnew regulations

MCT Similar trend as in 2017. Automakers: likely toincrease new R&D facility construction in 2019-2020

ECT Increase in orders based on next-gen technologies

＋

＋

2017 Results and 2018 Forecast(Billions of yen)

＋

-＋

＜Auto Sales Breakdown＞

＋

-＋

*1 Emission Measurement Systems; *2 Mechatronics; *3 Engineering Consultancy & Testing

*4 Intelligent Transport Systems

Sales and O.P. (Full-year) Sales O.P.

37.1 35.7 38.6 43.2 49.5 55.065.4 62.2

73.3 79.0

1.8 1.62.8

4.4 4.25.8 5.2

3.5

7.68.0

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

(Fore.)

39.7 40.1 45.3 49.0

19.7 13.2

18.318.01.6

1.6

1.61.5

4.27.2

8.010.5

2015 2016 2017 2018

ECT

ITS

MCT

排ガス

(Fore.)

65.4 62.2

73.379.0

*4

EMS


The next-generation emission regulationsEVs generating activity

1 Worldwide harmonized Light vehicles Test Procedure

(Unified emission regulations by the UN)

2 Real Driving Emission (On-board emission regulation)

Status of next-gen emission regulations

Test systems

Provide solutions from single systems(powertrain, motor)

to comprehensive systems, incl. vehicle evaluation

Activity derived from EVs

Battery development

Regulation EU Japan

WLTP1

Sep. 2017Oct. 2018(Plan)

RDE2 2022(Plan)

China, India: New regulation from 2020(Plan)

(Same level as Euro6)

Battery development and analysis Development and testing of battery

packs and battery managementsystems (HORIBA MIRA)

Analysis and evaluation of li-ionand all-solid-state batteries(use of scientific technology)

Business expansion by mutual utilization of resources

E-Motor testing equipment Electric vehicle testing

Analysis byscientific products

Auto(Billions of yen)

16.9 17.9 20.2 26.9 29.437.5

28.6 33.3 37.4 39.8 40.145.3 49.0

2012 2013 2014 2015 2016 2017 2018

受注残売上高

<EMS Sales/ Backlog>SalesBacklog

(Fore.)


Contributing to R&D forautonomous driving vehicles

Business in UK Action for business globalization

Event at the British Embassy Tokyo Automakers and UK government VIPs attended HORIBA presented potential for EV & autonomous

vehicle business.

Accompanied UK Prime Minister May’s visit to China Dr. George Gillespie, CEO of HORIBA MIRA

accompanied the prime minister, as arepresentative of the UK automotive industry.

Event at the British Embassy Tokyo(2nd from right: UK Ambassador

to Japan, Paul Madden)

Accelerate business globalization

Prime Minister May’s visit to China

Participate in the UK government project

Autonomous driving “UK Autodrive”

Host demonstration experiment

Main members of “UK Autodrive”

New order booked from the UK government

Establish a facility for multi-purpose tests

such as communication, crash, and vehicle

turning.

※UK Autodrive Consortium membershttp://www.ukautodrive.com/consortium-members/

Auto

Rendering of the test facility


P&E

Stack gas analyzers

Capture domestic replacement demand and anticipate further demand for stack gas analyzers related to VOC regulation in ChinaSales increase for process measurement equipment business due to recovery in investment by the oil industryCapture domestic replacement demand for water measurement systemsSales increase in developing countries

2017 Results

2018 Forecast

＋

-

＋

-＋

＋

<Sales by Business>

Japan: Replacement demandChina: Demand increase, driven by

VOC regulation

Slow sales in the process measurement equipment business in US due to less investment by the oil industry


(Fore.)

12.0 11.714.5 13.7 14.7 16.4 16.7 16.7 17.4 19.0

0.20.8 2.5

1.6 1.22.0

1.7 1.5 1.0 1.4

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

(Fore.)


6.0 6.1 6.4 6.7

5.3 5.4 5.96.4

2.4 2.12.5

2.71.5 1.9 0.91.9

1.2 1.1 1.41.316.7 16.7 17.4

19.0

2015 2016 2017 2018

Other

Process

Air

pollutionWater

Stack Gas

Analyzer


P&E

Gas Water

Business expansion in emerging markets

Launch new products in developing countries(Tunable Laser Hydrogen Chloride Analyzer “TX-100”)

Feature: No need of periodic replacement of parts;Easy calibration → Reduce running and

maintenance costPlan: Sale to incineration plants

Enhancement of local engineering (India, China)Customize stack gas analyzer to local specification

TX-100 (adopted at anincineration plant in China）

Local customization in India

Water quality analyzers applied in the sewerage process of plants

Sales increase by coping with local regulations

S. Korea Wastewater regulation change→ Quickly modified and authorized

Authorized under local industrial standard Increase in the number of distributors

for expanding sales channels

India

Korea India

【Sewerage plants】


Medical

Increase in expense in promoting hematologyand CRP analyzers in Japan

Sales drop in South America

Increase in expense for US FDA approval and sales promotion of new products

2017 Results

2018 Forecast

Intensified competition in hematology andCRP analyzers in Japan

Sales increase by new products launch andincrease in expense for US FDA approval andsales promotion of new products

-

-＋

-＋

-＋

- Solution(Launch in 2017)

New testing systems


Rendering of installed products

in a customer’s lab. in Brazil

22.3 22.5 23.4 22.426.8 27.0 27.6 26.5 25.1 26.0

1.9 2.33.1

2.4 2.41.7

2.5 2.81.9 2.0

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

(Fore.)


New Promo Movie_HELO Solution_Nov2016.mp4

New Promo Movie_HELO Solution_Nov2016.mp4


ClinicalChemistry

Hematology Immunology Coagulation

2tn yen 350bn yen 2tn yen 200bn yen

Large hospitalsTesting centers

Small andmedium-sized

hospitals

Hospitals

Test Category

Market size

Private practioners

Hospital units andsurgery rooms (POCT)

Initiatives for business expansionMedical

Long-term agreement with Siemens Healthineers New product “Yumizen H630CRP”with combined technology

of Japan and France

Mid./SmallHematology

CRPC.C.Mid./Small

Coag.

5 Diff. white cell diagnosis(France)

+CRP(Japan) For private practice and

Small- to mid-sized hospitals

Coordinate with software “GATE LINK”compliant with electric medical charts

New productYumizen H630CRP

Contract signed: Oct. 2017

Contents: Supply middle-large hematology analyzer toSiemens, which provides total healthcare solutions

including inspection equipment, diagnosticimaging unit, and care system

Aiming at sales growth, together with HORIBA Yumizen brand

Exhibition(Launch in Nov. 2017)

<Business development by test category>

KAZ/RoadMap.xlsx

KAZ/RoadMap.xlsx


Semi

2017 Results

2018 Forecast

Record-high sales and O.P.

Record-high production volume inMass Flow Controllers (MFC)

Robust capital spending by semiconductor makers in 1st half of year

Increased production capacity of the expanded Aso factory

＋

＋

＋

＋

Increase in storage for data centers

Increase throughput of Big Data

related to AI and IoT

Increased use of semicons in automobiles

MFC-related topics in Semi. market

HORIBA’s strength in high-end etching

Installed PI(Pressure Insensitive) function

that enables highly accurate fuel control

against pressure fluctuation

Highdemand for

semi.

Change in semiconductor technology

(Miniaturization, 3D-NAND, Multi-layered)

High demand for

etching

High demand for mass flow controllers

Pressure Insensitive MFCCRITERION D500


12.4

27.6 24.617.8

24.1 28.935.3 38.8

53.3 58.0

0.0 6.3 4.92.2 4.8 6.4 9.4 9.6

15.6 17.0

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018(Fore.)



Establish a stable delivery systemEnhance sales and service capabilities

Semi

Completed expansion of Aso factory Enhance global sales and service basesExpansion to satisfy further increase in demand

Timely delivery of high-quality products

Investment: About 2.7bn yen

Completed: Dec. 2017

Objective: Increase production capacity of MFCs

(50% increase in floor space)

HORIBA’s global MFC market share: About 60% (as of Dec. 2017; estimate: HORIBA)

HORIBA STEC KOREA’s new office Opening ceremony of HORIBA Taiwan

Korea: new head office of HORIBA STEC KOREA, Ltd.

Started in Apr. 2017

Increased production capacity and number of engineers

Taiwan: new head office of HORIBA Taiwan, Inc.

Started in Sep. 2017

Added one clean room, the second

China: new service offices in Wuhan and Nanjing

Provide technical service to nearby customers

Expansion in Aso factory

Expansion area


Scientific

Sluggish sales to universities in Japan, US and EU

⇔ Strong sales in China

Increase in R&D expenses for new products

US sales up of spectroscopes for semicon makers

2017 Results

2018 Forecast

Firm sales of core components for optical products

Recovery in demand from universities in Japan, US and EU

New market development with products customized to

needs of each customer

Core component of

optical products

Global state of the art technology

Developed and produced by

HORIBA France S.A.S. (former

HORIBA Jobin Yvon S.A.S.)

entered into HORIBA Gr. in 1997

Diffraction gratings

＋

-

＋

＋

＋

＋

-＋

HORIBA France S.A.S.Europe Research Center (France)


20.5 20.8 22.0 20.4 22.9 25.6 26.7 25.7 26.1 28.0

1.2 1.11.4

0.9 0.91.2 1.1 0.9

0.40.6

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

(Fore.)



New product launch in new markets

Initiatives taken in growth marketsScientific

New product “DUETTA”for the Bio-Life science market

Raman spectrometer: Expand businessin China and apply new technology

Fluorescence and absorbance spectrometer

For R&D of antibody treatment drugs

Combined the technology of former Photon

Technology International (US) acquired in

2014 and former HORIBA Jobin Yvon US

Use of a speed detector to enable quick measurement

New software withImproved user interface

Raman/Fluorescence Technology Symposium

Participated by 80 scientists

in materials, energy, chemical,

other fields

(Held in Dun Huang, China, in Aug. 2017）

Toray Research Center developed a new analysis

method by using HORIBA’s technology

Integrated current Raman microscope

with AFM (Atomic Force Microscope)

Enabled a nano-level analysis

Valid for structural analysisof power semiconductors

AFM(Atomic Force Microscope)Raman


Contents

2017 Results

2018 Forecast


Shareholder Return


Corporate profile


Shareholder Return

- Dividend payment + Share buyback = 30% of Consolidated net profit to be targeted

- Remaining earnings are retained internally for strategic investment (i.e. facilities, M&A)

Interim Year-end

2016 Results 85 yen[30 yen, 55 yen]

2017 Results 116 yen[40 yen, 76 yen]

(Upward revision by +21 yen from previous forecast)

2018 Forecast 120 yen[50 yen, 70 yen]

44

13 17

4050

6067 70

85

116120

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Per-share dividend (from 2008 to 2018 Forecast

(Fore.)

Renewed record-highs in dividend in 7 years (Fore.)

An average total return ratio of last 3 years : 28%

Basic policy

Dividends per share and Share buybacks

(Yen)


Contents

2017 Results

2018 Forecast


Shareholder Return


Corporate profile


Reviews of activities in 2017

“KAERU” MeetingGet off early.Change work practices.Change myself.

Realizing flexible workstyles A company-wide survey of opinions of

frontline workers Support for work and family care balance

“KAERU” Meeting Work and family care seminar

34 meetings(340 participants)

Identified “efficiency of meetings” as common issue

Initiatives for workstyle innovation matching the workfront

“Stained Glass Project” initiatives

Start from promoting women’s empowerment

Start Workstyle Innovation workshop

Theme: ”Individuals are changemakers”

Connect management, HR Department, and workfront

Make best of characteristics of each worksite and organization

STEP １2014

STEP 2from 2015

STEP 3from 2017

Key actions in 2018 Raise efficiency of meetings: Create optimaloperating methods for corporate-wide use Study introduction of rules to achieve flexible

workstyles considering the workfront


“HORIBA Premium Value” introduction

Adopt a budget for a unique KPI to measure

capital efficiency“Capital cost” is deducted from “Operating profit”

Penetrate the concept to group companies with a simple calculation method

Focus the operating profit which business divisions monitoring on a daily operations

Evaluate in absolute numbers, to easily understand effects and targets in monetary terms

HORIBA Premium Value

Operating Profit Capital Cost

Invested capital×

Internal capitalcost ratio

Approach by each division


Contents

2017 Results

2018 Forecast


Shareholder Return


Corporate profile


Operating profit Analysis (vs 2016)

IncreaseGross profit

Increase of Operating profit +8.33

Exchange impact +1.30 Expenses impact -4.25

IncreaseSales

+21.13

IncreaseCost ofGoodssales

-9.85

ExchangeImpact for

Gross profit

+2.25

2016Jan. – Dec.

IncreaseR&D cost

-0.80

26.83ExchangeImpact forExpenses

-0.94

18.49

+11.28

2017Jan. – Dec.

(Billions of Yen)

IncreaseOther

expenses

-3.44


Impact of Fluctuation in Foreign exchange(Billions of Yen)

Exchange rate impactfor 2018 Forecast

1 yen impact of Sales and O.P.(Yen appreciation)

SalesUSD -0.52bn yenEUR -0.32bn yen

Operating profitUSD -0.21bn yenEUR -0.02bn yen

USD EUR USD EUR

Auto +1.26 +0.32 +0.96 +0.18 +0.05 +0.10

P&E +0.29 +0.08 +0.10 +0.09 +0.00 +0.04

Medical +0.79 +0.15 +0.51 +0.03 +0.19 -0.06

Semi +1.06 +0.70 +0.02 +0.88 +0.58 +0.01

Scientific +0.75 +0.30 +0.41 +0.10 +0.03 +0.05

Total +4.17 +1.57 +2.01 +1.30 +0.70 +0.15

Total Total

Sales Operating profit

Exchange rate impact (2017 Results)

Sales +4.17bn yen O.P. +1.30bn yen

2016 Jan. - Dec. USD : 108.78 yen, EUR : 120.26 yen

2017 Jan. - Dec. USD : 112.16 yen, EUR : 126.70 yen

2018 Jan. - Dec. (Fore.) USD : 110.00 yen, EUR : 130.00 yen


Capital Investment, Depreciation, R&D(Billions of Yen)

2016

ResultsForecast@12/19

Resultsvs

2016vs

ForecastForecast

vs2017

Capital Investment 13.7 15.0 11.6 -2.1 -3.4 16.0 +4.4

Depreciation 6.8 7.2 7.5 +0.7 +0.3 7.5 +0.0

R&D 12.9 14.0 13.9 +1.0 -0.1 15.5 +1.6

(To net sales) 7.6% 7.4% 7.1% -0.5% -0.3% 7.4% +0.3%

2017 2018

2017Topics

-PP&E Expansion of Aso factory(2.3 bn yen), Investment to MIRA (1.3 bn yen)

-Depreciation Goodwill of MIRA※(0.4 bn yen)

-R&D Increased in P&E business

※Good will of MIRA e.g...Amortization included

2018Topics

-PP&E Expansion of Aso factory(1.7 bn yen), Investment to global network

-Depreciation Decrease Goodwill of MIRA +Increase by new investmentand expansion of Aso factory (0.1 bn yen)

-R&D Increase in Auto and Semi Business


2017 2016 Variation

Cash flows from operating activities +28.28 +15.87 +12.41

Cash flows from investing activities -13.16 -10.42 -2.73

Cash flows from financing activities -9.04 -0.45 -8.59

Cash and cash equivalents at end of year +58.33 +51.94 +6.39

Free cash flows +15.12 +5.44 +9.67

Consolidated Cash Flows(Billions of Yen)


Cash Balance(Billions of Yen)

- Loan repayment due to group financing- Recent issuer rating : R&I “A-” (July 2017), JCR “A” (August 2017)

(Consolidated basis, each end of year)

BondredemptionIn 2020

Current ratio

Total Loan Balance

28.0

2014254％60％

Cash※

47.8Bonds15.0

Long 2.2

Short10.8

44.7

Cash※

51.1 Long16,8

2015242％56％

Borrowed from JBIC

15.1 bn yen(2015)

Capital ratio

46.7

2017239％57％

Cash※

58.3

2016237％55％

42.0

Cash※

51.9

Bonds15.0

Bonds15.0 Bonds

15.0

Short12.8

Short12.4 Short 8.3

Long19,2 Long

18,7

*1 Cash*…Cash and Cash Equivalents at End of Period. *2 JBIC: Japan Bank for International Cooperation


Contents

2017 Results

2018 Forecast


Shareholder Return


Corporate profile


Corporate Profile

Head Office

Foundation

Incorporation

Fiscal Year End

Kyoto, Japan

1945

1953

December 31

To have interest and pride

in our work to enjoy our lives

- Corporate motto -

Atsushi Horiba

Chairman & Group CEO


Business Segments

・Environmental & Process Systems

・Environmental Radiation Monitor

・Environmental Regulation & Process Business

・Raman, Grating, and Fluorescence

・Synergy of HORIBA and HORIBA Jobin Yvon’s Technologies

・In-Vitro Diagnostic (IVD) Systems

・Integration of HORIBA ABX’s

Technology & Marketing Know-how

・Emission Measurement Systems

・Test Automation Systems

・Intelligent Transport Systems

・Engineering Consultancy & Testing(HORIBA MIRA, Ltd)

・Mass Flow Controller

・In-situ Analysis・Synergy among HORIBA HQ, HORIBA STEC, HORIBA Advanced Techno

and HORIBA Jobin Yvon’s Technologies

Process & Environmental

Medical

Semiconductor

Scientific

Automotive Test Systems


( ) =Segment Sales in MUSD

(Sales of FY2017)

Sales Breakdown by Segment

% = Segment Sales Ratio

Scientific

26.1（231）

Semicon

53.3（471）

Medical

25.1（222）

P&E17.4（154）

Automotive

73.3（649）

38%

9%13%

27%

13%

Sales: 195.3 B.JPY

Process & Environmental

Medical

Semiconductor

Scientific

Automotive Test Systems

Business Segments


※Market shares quoted are estimates by HORIBA.

80% 20%

35%

Emission Measurement Systems

57% 30%

Stack Gas AnalyzersAutomatic Blood Cell Counterplus CRP

Mass Flow Controllers Raman Spectrophotometers Gratings

Global

100%

(As of December 31, 2015)

Domestic

Market share


HORIBA Worldwide

EUJapan

AsiaAmericas

33%

29%17%

21%

Sales of FY2017 : 195.3 BJPY

(1,729 MUSD)

The Number of Group Companies by region


Americas 9

Europe 22

Asia 17 (4 in Japan, including HORIBA, Ltd.)

Total 48

Sales Ratio by Region


Employees by Region

Japan38%

14%

7,399

Total Number of Employees

33%

Total Europe： 2,414

13%

Total Americas： 944

54%

Total Asia : 4,041


Japan

38%

OtherAsia

16%

France

12%

Germany

8%

Other Europe

2% U.S.A

11%

2%

UK

11%

Americas

Daiwa Investment Conference Tokyo 2018 · 3/8/2018 · Total assets were 265.9bn yen, up 26.2bn...

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Transcript of Daiwa Investment Conference Tokyo 2018 · 3/8/2018 · Total assets were 265.9bn yen, up 26.2bn...